All Forum Posts by: Ryan Passamonti

Hello, I recently purchased a multi family. Looking to get in contact with a CPA, primarily one for real eatate, to help my file my taxes this year and get as many deductions as possible. I live in Worcester MA. Thanks in advance!

@Anthony Huntley Sounds interesting, I thought the prices in Worcester were getting high....haha. It makes me nervous spending that amount on my first purchase, but its a different market and the numbers seem to work. Any idea on what the ROI would be if you were to move out?

@Brian J Allen I do like Worcester and know it like the back of my hand seeing as I grew up here. Only thing is...Do I really see the market going up any higher than it is right now? The prices have gone up around 10%/yr....Is the market bound to level itself out soon? What do you think?

@Anthony Thompson I was planning on making it an owner occupy and living in the property. For that reason, i liked 3 family more because if a tenant moves you'll still be getting income from the other one. Is that a good idea? Or do you recommend a 2 family because since im new it'd be easier to learn the ropes.

@Bryan Devitt Funny you mention that, my dad actually works at a biotech company in Devins. I'll look more into that...thanks!

@Lien Voung Great idea, i was thinking Providence  because it's about a 45 min drive to Worcester which isn't that bad of a drive to work for me. Fall river is kind of a stretch just heard good things about it. I wouldn't mind uprooting and moving seeing as im young and change would be good the only problem would be my job. Thanks for the advice I will definitely look into Northhampton!

Hi all,

Im 20 years old and want to get started investing in real estate as soon as possible. I live in Worcester, MA as I've been doing my due-diligence I've realized Worcester's market is pretty inflated at the moment. I've been looking at other market's such as Providence RI or Fall River area. My question is what is a good market to invest into particularly in multifamilies. Open to all ideas im young and able to move if need be. Also, any advice to a new investor will be greatly appreciated.

Thanks,

  Ryan.